We will be organizing seminars and webinars on the Inflation Reduction Act (IRA) throughout the fall. Some resources can be found here:
IRS Statement by IRS Commissioner Chuck Rettig on the Inflation Reduction Act can be found below:
“The signing of the historic reconciliation package marks a transformational moment for our agency – and an opportunity for the future of tax administration. The IRS has struggled for many years with insufficient resources to fulfill our important mission. During the next 10 years, these funds will help us in many areas, including adding critical resources to not just close the tax gap but meaningfully improve taxpayer service and technology. This will allow the IRS to provide services to taxpayers in the manner they expect and deserve. The act also includes a wide range of tax law changes that we will have to implement very quickly.
Given the scope of the bill, keep in mind these changes will not be immediate. It’s a 10-year plan, and it will take time to put these provisions into place. More details will be available in coming months.
We have a lot of hard work in front of us to deliver on the high expectations this historic funding will provide. But I have great confidence IRS employees are up to the task – and will deliver for Americans as they have countless times before in the history of our agency.”
